The much-awaited Foreign Trade Policy mid-term review was on Tuesday released to highlight the steps taken by the government to ensure ease of trading for exporters in the country. Here are the highlights of the incentives the government has given to exporters.

The much-awaited Foreign Trade Policy mid-term review was on Tuesday released to highlight the steps taken by the Narendra Modi government to ensure ease of trading for exporters in the country and to highlight the impact of the Goods and Services Tax (GST) (Image: PIB)

The much-awaited Foreign Trade Policy mid-term review was on Tuesday released to highlight the steps taken by the Narendra Modi government to ensure ease of trading for exporters in the country and to highlight the impact of the Goods and Services Tax (GST). Aiming to nearly double India’s exports of goods and services to $900 billion by 2020, the government had announced several incentives in the five-year Foreign Trade Policy for exporters and units in the Special Economic Zones in April 2015. The mid-term review was supposed to be released in July with the implementation of the GST on July 1, but it was postponed to also study the impact of the new indirect tax on exporters.

Here is a summary of the incentives announced for exporters in the Foreign Trade Policy review today:

Overview

FTP will continue to have dynamic character

Import export code simplified

Government could assess the impact of GST and could take remedial action